Protected Retirement Plan
Our Protected Retirement Plan is a fixed term retirement product that you can buy with your pension fund.
If you don’t want to use your pension fund to buy an annuity immediately on retirement, you could consider investing in our Protected Retirement Plan. This product provides you with a fixed income for a specified period. At the end of that time, if you're still alive, a guaranteed lump sum will be paid.
At the start of the plan you can choose an income for a specified period as well as a choice of death benefits. A guaranteed maturity value, which is a lump sum payment, will be paid at the end of the chosen length of the plan.
You can then have another look at your retirement needs and use the guaranteed maturity value to buy an annuity, transfer to another drawdown pension arrangement or invest in another Protected Retirement Plan, if you're eligible.
A range of death benefit options are also available if you don't survive until the end of the plan. You can find details of this on the main features page. There are also some important things you should know about the Protected Retirement Plan.
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